News Release

NEW YORK--(BUSINESS WIRE)--Sep. 12, 2017--
Sycamore Partners today announced that it has completed its acquisition
of Staples, Inc. (the “Company”).

"We are pleased to have completed this transaction and look forward to
partnering with CEO Shira Goodman and the Staples management team as we
seek to increase long-term profitability," said Stefan Kaluzny, Managing
Director of Sycamore Partners. “With the support of its dedicated
associates, Staples is well-positioned to leverage its iconic brand and
leading competitive position to drive even greater value for its
business-to-business and retail customers in the U.S. and Canada.”

“We are excited about the tremendous opportunities ahead for the Company
and our talented associates,” said Shira Goodman, Chief Executive
Officer and President, Staples, Inc. “We look forward to benefitting
from Sycamore Partners’ retail and wholesale experience as we work
together to deliver exceptional products, services and expertise that
enable businesses to work better.”

As a result of the completion of the merger, the common stock of Staples
will no longer be listed for trading on Nasdaq.

About Staples, Inc.Staples brings technology and people
together in innovative ways to consistently deliver products, services
and expertise that elevate and delight customers. Staples is in business
with businesses and is passionate about helping businesses work better.
Headquartered outside of Boston, Mass., Staples, Inc. operates primarily
in North America. More information about Staples is available at www.staples.com.

About Sycamore PartnersSycamore Partners is a private
equity firm based in New York specializing in consumer and retail
investments. The firm has more than $3.5 billion in capital under
management. The firm's strategy is to partner with management teams to
improve the operating profitability and strategic value of their
businesses. The firm's investment portfolio currently includes Belk,
Coldwater Creek, EMP Merchandising, Hot Topic, MGF Sourcing, NBG Home,
Nine West Holdings, Staples, Talbots, The Limited and Torrid.